$25 Trillion in Euro Bank Losses

[wwswimming]

as in, $25 trillion in Euro Bank Losses.

the article was published Feb. 11, 2009.

then the essential details - 2 paragraphs - were scrubbed from the article. and here they are (below), courtesy of John Mauldin.

someone forgot to change the title of the page. it still reads - "European banks may need £16.3 trillion bail-out, EC dcoument warns - Telegraph"

from J. Mauldin -

"On the 11th February the Daily Telegraph's Brussels correspondent Bruno Waterfield wrote an article under the header: "European banks may need £16.3 trillion bail out, EC document warns." In the article, the reporter revealed that he has seen a secret document produced by the EU Commission which briefed the union's finance ministers on the true extent of the banking crisis. Less than 24 hours later, the article's header was changed to "European bank bail-out could push EU into crisis" and two paragraphs had mysteriously disappeared. Here they are:

"European Commission officials have estimated that "impaired assets" may amount to 44pc of EU bank balance sheets. The Commission estimates that so-called financial instruments in the 'trading book' total £12.3 trillion (13.7 trillion euros), equivalent to about 33pc of EU bank balance sheets.

In addition, so-called 'available for sale instruments' worth £4trillion (4.5 trillion euros), or 11pc of balance sheets, are also added by the Commission to arrive at the headline figure of £16.3 trillion."

Do yourself a favour - read those two paragraphs again. Newspaper editors do not change content light-heartedly. Did the Telegraph editor receive a call from Downing Street? Or Brussels? Did he have second thoughts about the avalanche that he could possibly instigate? I don't know and I probably never will. But one thing is certain. If the EU Commission's estimate of £16.3 trillion of impaired assets is correct, then the crisis is far worse than any of us could ever imagine. Not only would we have to get used to the prospects of a systemic meltdown of our banking system, but entire nations may go down as well."

 

[Zebo]

Don't worry recovery is nigh I'm told if we fall another 6000 there may be no more room for optimists to be wrong anymore. Always look at bright side.

 

[imported_K3N]

Derivatives are soooo awesOMMMe

 

[Farang]

can't we just.. like.. hit a reset button. i mean the world today is the same world back then. let's just forget this all happened and destroy all paperwork back to 1995

 

[StageLeft]

It's not worse than I can imagine because I can imagine a complete erasing of the economy in ways that we are used to thinking about it.

It's ok, now with England printing money the rest will get on board with that soon and how easy to buy off debt when you control its currency, right? No worries.

can't we just.. like.. hit a reset button. i mean the world today is the same world back then. let's just forget this all happened and destroy all paperwork back to 1995

Speak of the devil, isn't that what the stock market has just done? It may be 1996 or 1997, though, but 1995 will be here soon, don't worry.

 

[Zebo]

Originally posted by: Farang
can't we just.. like.. hit a reset button. i mean the world today is the same world back then. let's just forget this all happened and destroy all paperwork back to 1995

Jews did that called Jubilee every seven years. Debts were whipped out, everything in possession was yours, new currency etc. Todays wealth tenureship and political ownership will not allow such action, equality and dignity is not their goal, but rights of kings, slavery, and having us over the barrel..

 

[CanOWorms]

Media is tightly controlled in Europe. It wouldn't surprise me if they did receive a command from the government.

 

[cliftonite]

How the fuck is this going to get fixed?

 

[JSt0rm]

Originally posted by: cliftonite
How the fuck is this going to get fixed?

Time

 

[Duwelon]

Originally posted by: cliftonite
How the fuck is this going to get fixed?

Tell class warfare democrats to PO and get the people who know how to create jobs and wealth the ability to do so. I Hail BUSH as a great leader for taking on terrorism with an iron fist but a conservative idealogue he was not. He set the precident to make it easy for Obama to screw us over for years upon years to come.

 

[Craig234]

Originally posted by: Duwelon

Originally posted by: cliftonite
How the fuck is this going to get fixed?

Tell class warfare democrats to PO and get the people who know how to create jobs and wealth the ability to do so. I Hail BUSH as a great leader for taking on terrorism with an iron fist but a conservative idealogue he was not. He set the precident to make it easy for Obama to screw us over for years upon years to come.

"The patient needs more lead to be injected into their blood," said Dr. Duwelon. "The only explanation for the lead injected so far not curing them is that the amount is too low."

 

[Nemesis 1]

Originally posted by: Farang
can't we just.. like.. hit a reset button. i mean the world today is the same world back then. let's just forget this all happened and destroy all paperwork back to 1995

Actually they could do that if they wanted to. As you are all able to see now. This was a robbery by the wealthy against the rest. The system is no more broke today than it was 20 years ago. Its a paper system . It can be reset anytime the REAL $$$$ guys want to . All the world rules are made to protect them .

 

[ericlp]

Originally posted by: cliftonite
How the fuck is this going to get fixed?

We need to stop handing out bail out's and stimulus packages and focus our entire energy and money on the banking system --- I believe we need to nationalize the banking system.

Obama is making the problem worse. He is bouncing all over the board form health care to home owner bail outs to WTF!!!!

He needs to solve one thing at a time. The banking system must be FIXED first and HARD choices must be made. It's gonna get ugly but if it's not fixed we risk the economy collapsing.

We can't just hit the reset button. A lot of people are using their 401K's and Ira's that are tied to banks and the stock markets. Millions of people have them and if you hit the reset button we can't just zero out TRILLIONS in retirement funds. Or can we?

We may have to hunker down and nationalize the insurance companies as well. It's a stretch but at this point I don't see any other options.

 

[gingermeggs]

Originally posted by: Skoorb
It's not worse than I can imagine because I can imagine a complete erasing of the economy in ways that we are used to thinking about it.

It's ok, now with England printing money the rest will get on board with that soon and how easy to buy off debt when you control its currency, right? No worries.

can't we just.. like.. hit a reset button. i mean the world today is the same world back then. let's just forget this all happened and destroy all paperwork back to 1995

Speak of the devil, isn't that what the stock market has just done? It may be 1996 or 1997, though, but 1995 will be here soon, don't worry.

you say this after hilliary promised land asset to back up US bonds to china.
How many americans agree with that promise- and after all the iron/coal/aluminium ore sales to china from my country to china can you stand up against siad promise?
PRC - in the north american continent-
weirdest thing is even being euro-causaian I trust em more then you guys'
hell, they want to stage the next kufu championships here. pity it aint marksmanship!
yess very punny!

 

[gingermeggs]

and lest we forget currency is an honour system thats honour with a "u"

 

[gingermeggs]

the guns should be pointed at the top end thom run off debt- in all western countries..................

 

[gingermeggs]

Originally posted by: Zebo

Originally posted by: Farang
can't we just.. like.. hit a reset button. i mean the world today is the same world back then. let's just forget this all happened and destroy all paperwork back to 1995

Jews did that called Jubilee every seven years. Debts were whipped out, everything in possession was yours, new currency etc. Todays wealth tenureship and political ownership will not allow such action, equality and dignity is not their goal, but rights of kings, slavery, and having us over the barrel..

mount the arsenal and you got a shore shot in me!

 

[gingermeggs]

this why I am convinced terrorism is a sham

 

[StageLeft]

Originally posted by: ericlp

Originally posted by: cliftonite
How the fuck is this going to get fixed?

We need to stop handing out bail out's and stimulus packages and focus our entire energy and money on the banking system --- I believe we need to nationalize the banking system.

Obama is making the problem worse. He is bouncing all over the board form health care to home owner bail outs to WTF!!!!

He needs to solve one thing at a time. The banking system must be FIXED first and HARD choices must be made. It's gonna get ugly but if it's not fixed we risk the economy collapsing.

We can't just hit the reset button. A lot of people are using their 401K's and Ira's that are tied to banks and the stock markets. Millions of people have them and if you hit the reset button we can't just zero out TRILLIONS in retirement funds. Or can we?

We may have to hunker down and nationalize the insurance companies as well. It's a stretch but at this point I don't see any other options.

How will nationalizing it really fix it, though? Obama seems to be increasingly fixated on health care and evidently believes that reforming it offers a significant way out of this, which is silly. Reforming it offers a significant boon to the US long-term, but in the near term this economy does not give fvck about healthcare, it is far more dire than that.

 

[gingermeggs]

final straw is, I as a carpenter have never been in greater demand or of higher hourly rate in my country then now- maybe because I never trained anyone to compete against me in a "free" marrket- why would I cut my own throat!
23 years at the hammer taught by probably 1000years accumulative skill?
now all the productivity gain in all other industries due to computers never translated into an administrative gain in bureaucracy!
so we now go full circle...............John!

 

[gingermeggs]

Originally posted by: Duwelon

Originally posted by: cliftonite
How the fuck is this going to get fixed?

Tell class warfare democrats to PO and get the people who know how to create jobs and wealth the ability to do so. I Hail BUSH as a great leader for taking on terrorism with an iron fist but a conservative idealogue he was not. He set the precident to make it easy for Obama to screw us over for years upon years to come.

You are an Idiot!
you hail my ass and wild turkey bourbon!

 

[gingermeggs]

Originally posted by: Skoorb

Originally posted by: ericlp

Originally posted by: cliftonite
How the fuck is this going to get fixed?

We need to stop handing out bail out's and stimulus packages and focus our entire energy and money on the banking system --- I believe we need to nationalize the banking system.

Obama is making the problem worse. He is bouncing all over the board form health care to home owner bail outs to WTF!!!!

He needs to solve one thing at a time. The banking system must be FIXED first and HARD choices must be made. It's gonna get ugly but if it's not fixed we risk the economy collapsing.

We can't just hit the reset button. A lot of people are using their 401K's and Ira's that are tied to banks and the stock markets. Millions of people have them and if you hit the reset button we can't just zero out TRILLIONS in retirement funds. Or can we?

We may have to hunker down and nationalize the insurance companies as well. It's a stretch but at this point I don't see any other options.

How will nationalizing it really fix it, though? Obama seems to be increasingly fixated on health care and evidently believes that reforming it offers a significant way out of this, which is silly. Reforming it offers a significant boon to the US long-term, but in the near term this economy does not give fvck about healthcare, it is far more dire than that.

how do you explain having the highest cost health care in the world under previous system....numb nuts?
hell your probably a nam conscription chicken runner!

 

[gingermeggs]

your real issue is corporate controlled immigration, and a lack of labor cost balance in your inflation rate.

 

[gingermeggs]

why should a doctor or lawyer earn more then a carpenter or other technical professions?
because they did more school or they proclaim a higher IQ?
Things change after tv like cannonball run and BJ and the bear, and the advent of "LA LAW", boston law etc! etc etc!
bankers... burn em at the stake!!!!!!!

 

[StageLeft]

gingermeggs, obviously you failed out of highschool and have lost any love of knowledge since then, please go read some news and then come back here. The litmus will be if you still think a doctor is not worth more than a carpenter. Until you can say "yes he is", then you know you've not read enough.